Public Storage Announces Pricing of 3.950% Cumulative Preferred Shares of Beneficial Interest, Series Q

Aug 10, 2021

Tom Boyle, Chief Financial Officer of Public Storage (NYSE:PSA, the “Company”), announced that the Company has priced a public offering of 5,000,000 depositary shares at $25.00 per depositary share, with each depositary share representing 1/1,000 of a 3.950% Cumulative Preferred Share of Beneficial Interest, Series Q (the “Series Q Preferred Shares”). The offering is expected to result in $125 million of gross proceeds (assuming no exercise of the underwriters’ overallotment option) and to close on or about August 17, 2021, subject to the satisfaction of customary closing conditions.

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